Unfortunately for the subject of K-Theory, one of its major journals "The Journal of K-Theory", has been shrouded in controversy for the past few years, and as of today been deserted by all but two of its editors. Originally, this Cambridge University Press journal was meant to take the torch from Springer's "K-Theory", which also ended under strange circumstances (more details here).

Although published by CUP, "The Journal of K-Theory" is owned by A. Bak's company which has yet to hand over the journal to the four-year old K-Theory Foundation as promised. The editors, except for Bak and one other, have resigned in protest, and issued a final announcement today. The now-resigned editors have promised to help authors with pending submissions.

Luckily for the K-Theory world, the K-Theory Foundation will launch the new "Annals of K-Theory" next year, and it is already accepting submissions. The resignation announcement in particular encourages libraries to cancel their subscriptions to the old journal in the fear that, in the words of the editors, "a phantom of JKT might actually still exist" by the time the new journal is published.